Europe Medical Imaging Market: Outlook 2027 & Key Trends

Europe Medical Imaging Market was valued at 6.59 Billion in 2020. The basic Europe Medical Imaging is one of the segments reviewed in the MMR report dominating the global Europe Medical Imaging market.
Europe Medical Imaging Market Overview:
Since the overview of medical imaging equipment’s in the 20th century, the use of medical imaging expertise has been gaining ground in Europe, assisted by the improved healthcare strategies & rising obtainability of high-quality medical device. Harmless, effective, & progressive medical imaging is of greatest position in medical policymaking, dropping unnecessary events, & to confirm total outcome of actions.

With new imaging tools being presented each day, the faith in new medicine has been covered, particularly in the bleak periods of the COVID-19 epidemic. Key influences pouring the industry are the growing demand for early-stage analysis of chronic disease & increasing aging demographics, which is anticipated to increase the demand for analytic imaging through the globe. Technical developments, together with supportive funds & capitals by the government, particularly in emerging countries, like India & China, are also estimated to donate to market development. Also, growing demand for state-of-the-art imaging modalities by education hospitals & colleges to deliver training for progressive technology is anticipated to have a important influence on the market development during the forecast period. This trend, earlier partial to the developed nations, is now displaying a move towards emerging republics as well.
Europe Medical Imaging Market Product Overview:
The ultrasound sector held the major share of 30 percent in the year 2020 & is anticipated to uphold its lead during the forecast period. The sector development can be credited to the increasing number of ultrasound end use applications. New growths of advanced ultrasound transducers have unlocked new ways for ultrasound equipment’s into biomedical & cardiovascular imaging. Furthermore, an extraordinary attention on the growth of portable ultrasound equipment’s is anticipated to expand the uses of this modality in ambulatory & emergency care.

The CT sector is anticipated to see the fastest development over the forecast period. CT systems are one of the main diagnostic devices for corona virus patients. Great demand for point of maintenance CT equipment & the growth of a high-precision CT scanner by the addition of AI & progressive picturing systems are the major influences driving the sector. In the year 2019, Canon established the United States FDA nod for its AiCE, an Artificial Intelligence skill for integration with its Aquilion Precision scanner. The equipment aids in achieving precision diagnostic without the requirement to rise the dose.



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Europe Medical Imaging Market End-use Overview:
Hospitals took the major share of 43.1 percent in the year 2020. Increasing demand for progressive imaging modalities & the addition of surgical suits with imaging skills are some of the influences pouring the sector.

Some of the republics in established regions have shown a sharp increase in demand for these modalities in coaching hospitals as associated to general hospitals. But, emerging nations in the APAC region have presented a steep increase in the number of new hospitals. This can be attributed to the entrance of international healthcare service suppliers. Healthcare facility in these nations is dominated by private companies. New hospitals usually deliver devoted space for imaging modalities. Increasing race & growing demand for international healthcare facilities are the influences anticipated to fuel the sector development during the forecast period.
Europe Medical Imaging Market Regional Overview:
Europe led the global market with a 30.5 percent share in the year 2020. The occurrence of a large number of manufacturing companies & the high occurrence of novel product introductions within the region are the influences donating to the regional market development. The region displays high acceptance of advanced, costly medical imaging modalities as of the influences, like favorable repayment scenario & high patient consciousness. In adding, service charges in established nations are more than 1000 times higher as associated to emerging nations. This promises faster return on investment in costly diagnostic systems & suits.

Europe accounts for the maximum expenditure on healthcare in terms of GDP with the Germany spending closely 12.8 percent of GDP on healthcare as of the year 2015, & the number is projected to touch 15.42 percent during the forecast period. The above-mentioned reasons, together with the growing aging populace, the increase of chronic diseases, & the rising trend of defensive diagnostic practices, are anticipated to push the medical imaging industry in the Europe region.

Some of the noticeable business companies working in the market are Hitachi, SHIMADZU CORPORATION, SuperSonic Imagine, Hologic, Inc. & others. The manufacturing contributors are undertaking numerous business strategies like expansion & innovations to increase their consumer base & to provide the rising demand. In the year 2020, Esaote transported about 103 portable ultrasound systems through Italy in reaction to COVID-19 outburst. The firm also achieved considerable growth in revenue during COVID-19 disaster. This approach aided the company to reinforce its place in the market.

The objective of the report is to present a comprehensive analysis of the Europe Medical Imaging Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Europe Medical Imaging Market dynamics, structure by analyzing the Market segments and project the Europe Medical Imaging Market size. Clear representation of competitive analysis of key players by Product, price, financial position, Product portfolio, growth strategies, and regional presence in the Europe Medical Imaging Market make the report investor’s guide.
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Europe Medical Imaging Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US$ 6.59 Bn.


Forecast Period 2021 to 2027 CAGR:
5.23 %
Market Size in 2027:
US$ 9.42 Bn.


 Segments Covered:
by Product
• Digital
• Analog


by End-Use
• Hospitals
• Diagnostic Centers



Europe Medical Imaging Market, by Country
• UK
• France
• Germany
• Italy
• Spain
• Sweden
• Austria
• Rest Of Europe
Europe Medical Imaging Market Key Players
• GE
• Hitachi
• SHIMADZU CORPORATION
• SuperSonic Imagine
• Hologic, Inc.
• SAMSUNG
• FUJIFILM Holdings America Corporation
• Koninklijke Philips N.V.
• Siemens Healthineers
• Canon Medical Systems Corporation
• Bruker
• Mediso Ltd.
• MILabs B.V.
• MR Solutions
• TriFoil Imaging
• PerkinElmer Inc.
• Cubresa Inc.

FAQ’S:

1) What is the share of the Europe Medical Imaging Market in 2020?
Answer: The Europe Medical Imaging Market was accounted for 6.59 Billion in the year 2020.

2) Which product segment is dominating the Europe Medical Imaging Market?
Answer: Hospitals segment is the dominating end use segment in the market.

3) What are the key players in the Europe Medical Imaging Market?
Answer: GE, Hitachi. SHIMADZU CORPORATION, SuperSonic Imagine, Hologic, Inc.
SAMSUNG, FUJIFILM Holdings America Corporation, Koninklijke Philips N.V., Siemens Healthineers, Canon Medical Systems Corporation, Bruker, Mediso Ltd., MILabs B.V. MR Solutions, TriFoil Imaging, PerkinElmer Inc., Cubresa Inc.

4) Which factor acts as the driving factor for the growth of the Europe Medical Imaging Market?
Answer: The major factors for the growth of the Europe Medical Imaging market includes new technologies in the area of medicine foray into the commercial practices.